Costs as Instruments of Decision Making Process in Competitive Economies

Abstract

In contemporary and competitive economies costs represents an important instrument in the decision making process. The decision making process at the company's management level is defined by a variety of interrelated managerial decisions, setting goals, directions and ways of achieving them, ensuring economic and financial self-regulation as a whole. In the framework of the paper, it was conducted a survey on the use of cost in modern companies' decision-making under conditions of environmental challenges. General assumptions were made and statistics based on the theme explored. It was also performed an analysis of the data processed, which took into account checking assumptions.